Global Processing

Iraq pulls Basra gas field from bidding round

July 27, 2009
The Associated Press reports that Iraq has removed a small gas field in Basra from a list of eleven oil and gas fields being offered for development in its second round of postwar bidding. A top Iraqi official overseeing oil and gas licenses said that Iraq''s state-run South Oil Co. will instead develop the Siba field in Basra rather than put it up for bidding. Nine international oil companies have qualified to take part in the second round of bidding slated to begin later this year. Iraq''s first round of bidding wrapped up last month with only one deal made to develop a single oil field.